MCO Capital loan

grahamqat

Cheer up George - it isn't too good is it. Your card company seem to have spotted this crime, so perhaps that's a positive thing. Easy to get quite disillusioned about modern life though. You've just got to look to protecting yourself - no-one else is going to help you. Go and get a G and T!

geomacl

A stiff G&T worked wonders last night, grahamqat!!! The added advantage is that my wife will have to do without her credit card for a few days!!!;)

grahamqat

She might not be able to get you a Christmas present now!

geomacl

grahamqat wrote: »

She might not be able to get you a Christmas present now!

Darn!! Never thought of that - better give her an increase in pocket money to £2.

grahamqat

She lives a chamed life; hope she appreciates it!

Prudence2_2

geomacl wrote: »

I just had a telephone call half an hour ago from my Visa card provider to let me know that there were numerous attempts made to use my credit card this morning

I had a dodgy transaction on my last credit card statement - a massive restaurant bill, at a place in London (I was at home in Scotland on the day in question). I had to get my card replaced too - a real drag, and yet more forms to fill out.

At least the credit card people do seem to be pretty clued up. My provider usually phones me if there are any unusual purchase patterns on my card.

In fact they provide a good model for how the CRAs should operate. Instead of allowing any old Tom !!!!!! or Harry to search our credit files, what they should be doing is looking at our credit profiles and asking 'Has this person ever applied for a payday loan before?' 'Do they have the sort of credit history of a person who would apply for a payday loan?' Then when the answer is a resounding 'NO', alarm bells should be ringing and they should block the search until they have our permission.

That's how it would be if Prudence2 was Prime Minister!!

Robie_Nudd

Prudence2 wrote: »

I
In fact they provide a good model for how the CRAs should operate. Instead of allowing any old Tom !!!!!! or Harry to search our credit files, what they should be doing is looking at our credit profiles and asking 'Has this person ever applied for a payday loan before?' 'Do they have the sort of credit history of a person who would apply for a payday loan?' Then when the answer is a resounding 'NO', alarm bells should be ringing and they should block the search until they have our permission.

That's how it would be if Prudence2 was Prime Minister!!

No doubt Experian made a considerable profit by informing MCO Capital that none of the 9,000+ false applicants had any CCJs against them. It would make interesting reading on what Experian have had to say about the 9000+ account holders. I actually came on here to say that one of the aspects of this case that has caused me interest is the selling on of the loan collections to further companies. One of these, Westcot, has featured elsewhere on these forums.

Prudence2_2

Robie_Nudd wrote: »

No doubt Experian made a considerable profit by informing MCO Capital that none of the 9,000+ false applicants had any CCJs against them. It would make interesting reading on what Experian have had to say about the 9000+ account holders. I actually came on here to say that one of the aspects of this case that has caused me interest is the selling on of the loan collections to further companies. One of these, Westcot, has featured elsewhere on these forums.

You're right Robie - Experian would have made a tidy sum from those bogus searches. Of course credit card providers have a vested interest in protecting their customers because they foot the bill if our cards are stolen or cloned. The CRAs on the other hand have no reason to protect us - it prevents them making money!

I have not heard of Westcot before but the idea of selling on the debts does not really surprise me - just another aspect of the murky world of payday loans.

Is there any news about how the fraudsters got our names and addresses?

Thanks - Pru

geomacl

Sorry to hear that you too were hit by credit card fraudsters, Pru. As you say, the credit card companies are well on top of this problem. This has happened to me on 2 occasions in the last 6 months - for 2 different cfredit cards. Each time they called me before they authorised the payments but the damnable thing is that they have to cancel the card and re-issue. At the present time, here in Scotland(I've 2 feet - or is it that 60 cm - of snow and it's still snowing?), the mail is dire and there's no telling when the replacement card will arrive - maybe it won't arrive if it gets siphoned off by a crooked temp post office worker as he/she twiddles thumbs as undelivered mail piles up all around!! Does that make me a cynical pessimist???

geomacl

I've just had a look at the Action Fraud web site news and it makes depressing reading. It would seem that the UK is a scammers paradise! There are Christmas collection scams, lottery scams, PayPal scams, online car sales scams, email scams, facebook scams, winter fuel allowance scams, council tax refund scams, parrot and puppy? scams, wi-jacking scams, land banking fraud - you get the picture!
I wish it was time for my G&T!!! Maybe I'll go lie down in a dark room!